Aluminium prices dropped by Re 1 to Rs 247.50 per kilogram in futures trading on Monday, as traders pared positions amid a weak trend in the spot market.
On the Multi Commodity Exchange, aluminium for July delivery fell by Re 1, or 0.4 per cent, to Rs 247.50 per kg in 3,672 lots.
According to analysts, the decline in prices was primarily driven by reduced demand from consuming industries, prompting participants to cut down their holdings.